By NATION REPORTERABOUT US$558 million is planned to be invested in Tanzania-Zambia Railway Authority (TAZARA) to turnaround operations as a strong short-to-medium term measure.The announcement was made at the virtual meeting of the TAZARA board of directors on Wednesday.The board said the TAZARA Council of Ministers would soon meet to make a decision on the proposed Revitalisation Bankable Business Plan, whose investment outlay was US$558 million.It stated in a statement that investment underpinned a strong short-to-medium term blueprint for the required transformational actions necessary to turnaround the operations of TAZARA.The Board said the performance of the firm for the first half of the financial year 2020/2021 improved by 19 percent in freight traffic compared to the previous first half of financial year, 2019/2020.It stated that despite a global economic slump due to the Covid-19 pandemic, freight traffic volumes for the first half of 2020/2021 (July-December 2020) increased from 88, 356 tonnes recorded in the previous […]
TAZARA IN $558M LIFE-BLOOD BOOST
